Merit Financial Group LLC Purchases 163,441 Shares of NVIDIA Co. (NASDAQ:NVDA)

Merit Financial Group LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 33.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 649,837 shares of the computer hardware maker's stock after acquiring an additional 163,441 shares during the period. NVIDIA accounts for about 1.1% of Merit Financial Group LLC's investment portfolio, making the stock its 20th largest position. Merit Financial Group LLC's holdings in NVIDIA were worth $70,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Norges Bank bought a new stake in NVIDIA during the 4th quarter worth approximately $43,515,504,000. GAMMA Investing LLC raised its position in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the last quarter. Northern Trust Corp raised its position in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after buying an additional 34,441,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $2,987,733,000. Institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock valued at $360,351,849 in the last 90 days. Company insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

NVDA has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. DA Davidson lifted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Citigroup reiterated a "buy" rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Bank of America lifted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.24.

NVIDIA Stock Down 2.1%

NASDAQ NVDA opened at $141.97 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $122.77 and a two-hundred day moving average of $126.44. The firm has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

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